Obviously a very extreme example, but was merely using such extremities to prove a point....

About the other issue of odds on favourites. I have no figures to back me up. But I would presume the average price of odds on favourites would be closer to $1.7, meaning that you can have a strike rate closer to 60% and still lose.

On an average, if you group together certain priced horses, they will always average a strike rate just short of odds available when using one tab. All favourites return about 90% of your money using the tote.

When I say that odds on favourites win more than 50% of the time, that does not mean that they provide any better value than anything else. Maybe I am wrong, as I say it is just a presumption and don't have recorded stats on all odds on runners..